Rewarding Excellence in Long Beach CA

 LONG BEACH REAL ESTATE

Rewarding Excellence in Long Beach CA

A TRIP TO STAPLES LONG BEACH CA THAT WILL “NEVER” BE FORGOTTEN

As you all know we Long Beach Realtors are a busy bunch and when we need something we generally need it right now.  So it was for me today.  I needed a new day planner right away for my busy Long Beach Real Estate business, so I went to Staple’s up at the Long Beach traffic circle on my way into the office.  Now you know that a trip to Staples isn’t much different than a trip to the grocery or drug store.  Personally I don’t like going into any of these stores because I usually end up leaving with about half of their inventory. 

Upon entering the store I grabbed one of those 10 ton buckets of licorice for the office, found my new day planner and remembered I needed a new head set for my TREO, so I bop on over to the electronics department.  There is a service desk in the electronics department with a Staples employee servicing another customer.  I asked where the headsets were, received an answer and went over to check them out.  None of them indicated they were comparable to a TREO so I head back to the service desk where the customer was no longer apparent.  I asked the Staples employee for assistance, he indicated that he was still working with another customer but would get me help.  He then paged somebody named Larry twice.  I waited, and waited, and waited and I was done.  I told him thanks but it was taking too long, bye bye, and proceeded to the check out counter, a bit ticked off.  Found a mess of other items at the counter that I didn’t need, tossed them into my basket as well. 

Just as I finished placing all of my items on the counter the Staples employee who tried to assist me in the electronics department arrives at the checkout counter and whisks all of my items off of the counter while saying, “You are not paying for anything today!” and places my order into bags and hands it to me saying “I am really sorry for the way you were treated here today, I will make it a point for that to never happen again, please accept my apologies”.  I was speechless (a rare state for me).  I thanked him and went to leave the store. 

I went back to ask his name, the employee I spoke to told me that Patrick Owens is the stores new manager and that he is wonderful.  Even the employees love this guy!  It’s no wonder why.  He gets it!  He easily could have just apologized or given me a 10% discount, but no, he went the whole nine yards.  I am stunned at this level of customer service.  

When we are treated badly we never forget it.  I will never forget Patrick Owens and the way he made up for his inability to service his customer.  I will never forget the look of pain on his face at the failure of the system he managed.  I also know from that look that he finds that level of service unacceptable and will do something about making certain “his” Staples customers are treated better in the future.  He did that today. 

In Patrick Owens I find a kindred spirit.  I completely understand the position he was in today.  The perfectionist, unable to deliver perfection. 

Patrick Owens today you earned a for excellence.

I hope you never lower your standards, and that you influence many others to strive to your standards of excellence. 

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Posted on March 9, 2007 by Laurie Manny

Media Madness – Let the Buyer Beware

Back on 1/26/2007 Active Rain member Chichi Ahia wrote an exceptional post; Is Your REALTOR on Your Side? (Yet Another Realtor Slam) which many of you may recall.  It was about an article By Stephen Gandel, Money Magazine senior writer, on CNN Money.com titled ‘How to make your Realtor work for you‘.  The article basically told buyers they didnt need representation, was inflammatory to the extreme and garnered a rapid 65 angry comments.

 
I was very disturbed by the article and did a Google search of the authors name which led me to Spencer Barrons blog. His post begins:

‘How about that. I actually got quoted in Money Magazine. Albeit my statement appears a bit truncated, it is not incorrect. Im quoted as saying ‘People offer higher commissions because it works’. Ill stand by that. Offering a higher commission to a buyers agent does help sell your home. It doesnt necessarily help you get a better price but it will get you slightly more traffic. Ill explain, but first, this is what Im talking about. The February 2007 Article entitled ‘Is your Realtor on your Side?’ by Stephen Gandel

Steves seems to be trying to get his fingers on the pulse of real estate but cant seem to get past the waiting room.’     Read More¦.

I stopped by his blog and invited him over to Chichis to comment: 

Stephen Gandel seems to be a little light in the research department when writing his consumer articles. Check out the discussion going on here: http://activerain.com/blogsview/38785/Is-Your-REALTOR-on

He does seem to know how to stir up controversy.

Spencer Barron took me up on the offer to visit Chichis post and left this comment:

I honestly cant say I agree with the article and I even got quoted in it! Steve seems to start with a premise and builds it into an article without determining if the premise is correct.  Its pretty poor reporting.  Its a pretty poor concept especially if anyone out there actually believes hes being accurate.  I just talked to a seller who happened to have the article on the coffee table.  They were consulting it for tips on how to go about their home buying process.  Pretty scary since now theyre looking for help because they dont feel they could trust the listing agent but still dont want to pay a buyers agent.  Theyre currently working with the listing agent who they dont trust.  Sorry, you gave up your right to seller paid buyer representation,  can you pay out of pocket?¦didnt think so.  Go it alone?  Good job Mr. Gandel, that advice will lose your readers far more than theyll ever save.   If someone wants to attempt whats in the article fine with me, but dont come crying to me.  No more free advice to home buyers,  I believe the saying is ˜casting pearls before swine¦not the Im calling anyone swine.

I got more about my conversations with Stephen Gandel via email and phone on my blog http://www.spencerbarron.com

discusses the value of having a buyers agent. More than that, it actually gets into the morality of the strategies some homeowners and builders are using to sell their homes. 

I also located another string going on over at blawg on the same subject. 

Well it seems that Stephen Gandel, the author, has decided to grace us with his presence at blawg: (from comments)

1. Actually, Stephen, there is nothing wrong with my facts:

   http://activerain.com/blogs/cahia

   I honestly cant say I agree with the article and I even got quoted in it! Steve seems to start with a premise and builds it into an article without determining if the premise is correct. Its pretty poor reporting. Its a pretty poor concept especially if anyone out there actually believes hes being accurate. I just talked to a seller who happened to have the article on the coffee table. They were consulting it for tips on how to go about their home buying process. Pretty scary since now theyre looking for help because they dont feel they could trust the listing agent but still dont want to pay a buyers agent. Theyre currently working with the listing agent who they dont trust. Sorry, you gave up your right to seller paid buyer representation, can you pay out of pocket?¦didnt think so. Go it alone? Good job Mr. Gandel, that advice will lose your readers far more than theyll ever save. If someone wants to attempt whats in the article fine with me, but dont come crying to me. No more free advice to home buyers, I believe the saying is

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Posted on March 2, 2007 by Laurie Manny

Buyers Dont Get Ripped Off By Your Lender

Psssssssst,

Hey you…

Yeah you…

The one getting a loan…

Wanna know a secret?

Shhhhhhhhhhhhhhhh…

It’s a good one…

It’s called a lock in letter, and it is one of the most valuable assets you have to protect yourself from getting ripped off by your lender. Yeah, I know, he is a nice guy and you trust him.  So did many other buyers that got ripped off. 

So many buyers are being sold loans by lenders who do not have the ability to provide the loan they initially present.  Insisting on a lock-in letter assures you the loan is real and that you actually qualify for it.  You see, they could not provide you with the lock-in letter otherwise.

If you request a lock-in letter and it is not provided immediately, RUN as fast as you can.  I don’t care what the excuse or reason your lender gives you, it is false.  No lock-in letter, no business.

Lock in letters are free of charge and guarantee that you will close escrow with the interest rate and terms of the loan that was presented to you initially by your lender.

Don’t get caught in a bait and switch by an unethical lender!

Want to know more?  I am just chock full of good information.  Give me a call 562-212-5420. 

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Posted on February 27, 2007 by Laurie Manny

Title Insurance Issues

In a recent transaction I represented a buyer purchasing a Long Beach CA condo.

One of the many components involved in a purchase is Title Insurance. Early on during the escrow process the Title Company will deliver a Preliminary Title Report to the REALTOR® for review and to disburse to the buyer.

The title report will disclose any obstruction to the transfer of clear title from the seller to the buyer. It will show balance of mortgage due, any unpaid taxes, liens, judgements, all which must be cleared prior to the close of escrow in order to transfer clear title. It will also show any easements and anything else that might cloud clear title.

This particular Preliminary Title Report had a paragraph, buried deep in the back of the report in the boilerplate of the contract. I noticed this while I was reviewing the document and was initially so confused by the statement that I had to re-read it 4 or 5 times, run it by a couple of people in my office and call the title officer that I normally use. I could not believe what I was reading, and was convinced that I must be having a half-heimers moment because this just could not be possible!

The basic crux of the paragraph was that the title company would not deliver title insurance on the 2 parking spaces that are deeded to the unit. I can not even begin to describe the potential problems this could cause. The title company was instructed to remove the paragraph or another title company would be used. They did so, and very quickly when challenged.

Understand that the Title Company is “INSURING” clear title to your new home and these 2 parking spaces are deeded to and a part of your new home.

My title officer went on to explain to me that this is a new ploy being used by a few less than reputable title companies in an effort to reduce their liability. Well it seems to me that if they did their job properly and did proper searches to do just that, they would not have to worry about reducing their liability.

He went on to explain that this has already caused a problem for one Long Beach Buyer and REALTOR®. They were fortunate enough to have been able to work the problem out. Apparently the 2 spaces deeded and transferred had been with that particular unit through several owners and the fact that a prior owner had switched spots with another owner in the building had gone undetected (more poor work by other title companies). When searched the problem was resolved by switching the spaces back without harm. Under different circumstances this could have been a huge problem.

So now we are back on track in the transaction (you would think).

Another part of the paperwork process is disclosure. Part of the disclosure process when purchasing a condo are the Homeowners Association Documents, Minutes and Financials. These should be delivered in a timely manner based on the time line described in the purchase contract/joint escrow instructions.

In this particular transaction, with the same title company as above the HOA documents were not presented to the buyer until a few days before closing, despite attempts to acquire them sooner. My buyer had been instructed to sign nothing without reviewing it with myself, his REALTOR® and was savvy enough to understand the value in doing so. As it turns out the seller had a lien, undisclosed by the same title company (this is soooooo part of what they are responsible for) for unpaid HOA dues for about 6 months. There was also evidence of an undisclosed assessment, and as if that was not enough an undisclosed increase in HOA dues. This came to the tune of over a couple of thousand dollars. Not funny!

Now before I go any further here let me say that the 3 most important factors in any real estate transaction are:

“DISCLOSE”     “DISCLOSE”     “DISCLOSE”

Because, Disclosure will set you free!

An amendment to the purchase contract was presented to the buyers agent authorising escrow to withhold the funds from the sellers proceeds to satisfy all of the above, with instructions for the seller to sign immediately or forfeit the deal.

The seller signed and returned the document in less than an hour because:“NON-DISCLOSURE IS A VERY SERIOUS ISSUE”

and is the basis upon which most real estate litigation’s are founded.

It is critical in any real estate transaction to read all of your documents and question that which you do not understand, until you do.

In so many transactions I see peoples eyes rolling into the back of their heads when they look at the stacks of paperwork involved, and at all of the small print. Always remember that for most of you this is the biggest purchase of your life and should not be taken lightly. All of the components of any real estate transaction are in place for an excellent reason, to protect the parties involved.

More Title Insurance Issue’s

One of my 2007 Goals was to change brokerages. I moved into my new office about a month ago.  The new office is an “open” office which means that Title and other sales reps are free to roam around and interfere in your business day at their whim (going to have to start closing my office door again).  There are title reps roaming around here that did not roam around my other company (new faces), so they are all approaching me for business.  

So this young cutie-pie title rep comes strutting into my office a little while ago to introduce himself.  All full of compliments about my great office la la la…..  During our conversation I brought up the Title Insurance Issues on my last transaction and asked him how the company he represents handles the indemnification of parking spaces on the sale of a condo.  They don’t indemnify them either! Lo and behold, they too are sliding this into the back of the Preliminary Title Report in the boiler-plate. 

While he and I were having this conversation 4 other Realtors joined us.  They too had no knowledge of this, but were very concerned since he was the title rep that they used on a regular basis and this was the first they had heard of this.  They are checking their preliminary title reports as I am writing this post.  One is worried about her own parking spaces since she used this title company when she purchased her own condo. 

So my advice to you is to read your boilerplate folks.  The times they are a changing.

If we represent a buyer in a transaction and the parking spaces are part of that transaction, there had better not be an issue with them after the close of escrow.  

Personally if the title company would not remove the clause releasing them from the indemnification, I would insist on changing title companies until one did.  At the very least I would think a separate disclosure to the buyer pointing this out would be in order, but I am certainly not an attorney. 

Your thoughts……………..?

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Posted on February 23, 2007 by Laurie Manny

The Future of the New York Times

While browsing news ads today I found myself increasingly annoyed by the inability to comment.  I attribute this to the free voice we have in the blogging world.  Our ability to respond and be heard is valuable.  Some news articles have a comment area, many do not, I find this very frustrating.

The NY Times publisher,  Arthur Sulzberger, announced today that he doesn’t know if the paper will be in print 5 years from now.  He further went on to state that the paper has already begun to shift to the Internet. 

Mr Sulzberger goes on to say that the NY Times Internet service will not be free.  I find that amazing.  In an innovative Internet society with so many free news sites and feeds, why would anybody pay for that service?  Five years is a long time, there will be many sites expanding their free services, increasing the variety of information provided and building their subscribers. 

Direct Quote:

“We are curators, curators of news. People don’t click onto the New York Times to read blogs. They want reliable news that they can trust,” he says.”

Do you really think it is not possible to find reliable news for free?  I cannot imagine anybody paying for news service or feeds five years from now, we can already access this information through feeds for free.  I can only imagine the innovations in the tech world in the next five years. 

Do you remember when Trans World Airlines (TWA) and Pan American Airlines (Pan Am) owned the skies?  Do you remember a huge computer company called Wang? 

Did you notice who Time Magazine chose as “Time’s Person of the Year“? My favorite quote from that article is:

“It’s about the many wresting power from the few and helping one another for nothing and how that will not only change the world, but also change the way the world changes.”

Wake up and smell the coffee Mr Sulzberger.

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Posted on February 8, 2007 by Laurie Manny